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Abonner PANDATEL AG i.A.

PANDATEL AG i.A.

euro adhoc: PANDATEL AG
Quarterly or Semiannual Financial Statements
Pandatel: H1 sales in line with expectations - equity on the rise (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
In H1 2003 Hamburg-based Pandatel AG booked sales of EUR 8.9m, as
against EUR 15.2m one year earlier. Owing to the weak sales, the
company reported a loss of EUR 2.4m, as compared with profit of EUR
0.7m 12 months before. The loss before tax came to EUR 3.6m, whereas
H1 2002 closed with EBT of EUR 1.2m. As expected, Pandatel’s
cost-cutting agenda has not yet favorably influenced earnings.
Nevertheless, Pandatel is looking to the future with optimism: in Q2
2003 the company already scored a 32.3 percent increase on sales in
Q1. The Management Board anticipates that as of 2004 sales will rise
and Pandatel will return to profit. The company can, moreover, rely
on a very sound capital base: Own funds amount to 94.5 percent of
total assets, while cash and cash equivalents have surged from EUR
11.7m in H1 2002 to EUR 25.5m. At this year’s Ordinary General
Meeting the shareholders resolved to forgo a dividend disbursement;
liquidity has thus been spared. In this way, Pandatel is able to
absorb the current weakness in the network equipment market. Market
capitalization has increased appreciably with the rally in tech
stocks. At the end of July, having climbed steadily the Pandatel
equity reached a new high for the year of EUR 4.59, followed by a
brief bout of profit-taking.
Sales negatively impacted by dollar weakness and SARS 
Pandatel has had to absorb sales decreases worldwide that were still
in line with expectations by the market pundits. Alongside the
general weakness in unit sales among telecom equipment providers, the
SARS outbreak dampened what had until then been a very positive
business trend in Asia. The US market, which was stuttering anyway,
suffered from the falling US dollar against the euro, which Pandatel
considers a longer-term phenomenon. The EMEA region (Europe, Mideast,
Africa) tended very uneven. The proportion of intra-Group sales rose
from 10.0 percent in H1 2002 to 13.1 percent.
The full interim report for H1 2003 will available on Wednesday,
August 10, from 10 a.m. in our www.pandatel.com Web site.
~
                              H1 2003  H1 2002
Sales revenues (EUR 000)       8,941   15,238
EBT (EUR 000)                 -3,640    1,232
Net income/loss (EUR 000)     -2,432      679
Earnings/loss per share (EUR)  -0.34     0.09
Employees                        174      159
~
end of announcement        euro adhoc 12.08.2003

Further inquiry note:

Dietlinde Bamberger
Investor Relations
ir@pandatel.com

Branche: Telecommunications Equipment
ISIN: DE0006916307
WKN: 691630
Index: Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade